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Learning, Industrial, and Technology Policies: An Overview

Noman, Akbar; Stiglitz, Joseph E.

Many of the most fundamental and frequent controversies in economics revolve around two related sets of issues: the salience and significance of market failures and the role of the state in overcoming them. They arise in a particularly acute form in the literature on industrial policies. Broadly understood, industrial policy refers to public policy measures aimed at influencing the allocation and accumulation of resources, and the choice of technologies. A particularly important set of industrial policies, at the center of many of the chapters in this volume, comprises those targeted at activities that promote learning and technological upgrading. They are sometimes more accurately labeled as learning, industrial and technology (LIT) policies. We use the term to cover both deliberate and self-described industrial policies as well as policies that have a similar effect though they are not labeled as “industrial policies” (this is particularly well illustrated by Antonio Andreoni's contribution, chapter 9).


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Efficiency, Finance, and Varieties of Industrial Policy: Guiding Resources, Learning, and Technology for Sustained Growth
Columbia University Press

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April 15, 2019